Seeking Alpha
2022-02-22 16:46:40

Cryptocurrency exchange FTX launches new gaming unit -Bloomberg

In an effort to expand its footprint in the gaming space, cryptocurrency exchange FTX introduced its new unit, FTX Gaming, Bloomberg reported Tuesday. FTX Gaming, which operates through FTX's U.S. affiliate, will launch with a "crypto-as-a-service" platform through which gaming firms can issue tokens and offer support for non-fungible tokens, Bloomberg highlighted. The unit began hiring a fully-remote-team in February, consisting of software engineers with coding experience in the gaming industry. The move comes as the so-called GameFi, a blockchain-powered "play-to-earn" system, space gains traction from firms that want to implement GameFi use cases to the metaverse, for example. “We are launching FTX Gaming because we see games as an exciting use case for crypto,” an FTX spokesperson told Bloomberg via email. “There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them.” In mid-January, FTX Trading formed a

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.